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Provident Bank
3756 Central Avenue
Riverside, CA 92506
Phone:  (951) 686-6060

IMPORTANT NUMBERS

Access Plus Direct Talk
24 Hour Information
Phone:  
(800) 442-5201

Debit Card PIN Update
Phone:  
(800) 567-3451

Provident Bank Mortgage
Direct Loan Center

Monday - Friday
Phone:  (800) 250-1713

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• CONTRIBUTORY & ROLLOVER IRAs

 
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There are two types of "Traditional IRAs" - Contributory IRAs and Rollover IRAs.

A Contributory IRA is used to personally set aside funds for retirement. For many taxpayers, annual amounts contributed to this type of IRA are deductible on an individual's tax return. Tax deductibility depends on an individual's participation status in an employer's retirement plan and adjusted gross income (AGI). Interest earnings are tax deferred until withdrawn.

Rollover IRAs are established to shelter from taxation money distributed from an employer's qualified retirement plan. Interest earnings are tax deferred until withdrawn.

ROTH IRAs

Roth IRAs are used to put aside funds for retirement. Although, contributions are not tax deductible, all earnings have the potential to be distributed tax-free if certain criteria is met. In addition, there are no mandatory distributions required at age 70 1/2.

SEPS

A Simplified Employee Pension (SEP) is a pension plan established by a business whereby the contributions are deposited into Traditional IRAs and are tax deductible by the employer. A sole proprietor, partnership, corporation, or tax exempt organization may establish SEPs.

SIMPLE IRAs

The Savings Incentive Match Plan for employees (SIMPLE) IRA plan makes available a simplified salary deferral retirement option to small employers with less than 100 employees. Contributions are made to each participant's SIMPLE IRA.

RETIREMENT PLAN FEES

IRA Annual Trustee Fee$20.00
Lump Sum Distribution Fee$25.00
Outgoing Transfer Fee$50.00
Process of Legal Services (Levies)$100.00
Marital Dissolution$50.00
IMPORTANT NEWS
June 12, 2017

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August 5, 2016
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60 Years
Serving the Inland Empire with a history of safety and soundness.
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NMLS ID#: 449980 | Routing Number: 322270518
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